Minutes Benchers Date: Friday, October 26, 2012 Present: Bruce LeRose, QC, President Greg Petrisor Art Vertlieb, QC, 1st Vice-President David Renwick, QC Jan Lindsay, QC 2nd Vice-President Phil Riddell Rita Andreone, QC Richard Stewart, QC Kathryn Berge, QC Herman Van Ommen David Crossin, QC Ken Walker Leon Getz, QC Tony Wilson Miriam Kresivo, QC Barry Zacharias Bill Maclagan Haydn Acheson Nancy Merrill Satwinder Bains Maria Morellato, QC Stacy Kuiack David Mossop, QC Peter Lloyd, FCA Thelma O’Grady Ben Meisner Lee Ongman Claude Richmond Vincent Orchard, QC Richard Fyfe, QC, Deputy Attorney General of BC, Ministry of Justice, representing the Attorney General Absent: Thomas Fellhauer Catherine Sas, QC Staff Present: Tim McGee Bill McIntosh Lynn Burns Jeanette McPhee Robyn Crisanti Doug Munro Jeffrey Hoskins, QC Lesley Small Su Forbes, QC Alan Treleaven Michael Lucas Adam Whitcombe Guests: Chris Axworthy, QC, Dean, Faculty of Law, Thompson Rivers University Dom Bautista, Executive Director, Law Courts Center Mark Benton, QC, Executive Director, Legal Services Society
Transcript
Minutes
BenchersDate: Friday, October 26, 2012 Present: Bruce LeRose, QC, President Greg Petrisor Art Vertlieb, QC, 1st Vice-President David Renwick, QC Jan Lindsay, QC 2nd Vice-President Phil Riddell Rita Andreone, QC Richard Stewart, QC Kathryn Berge, QC Herman Van Ommen David Crossin, QC Ken Walker Leon Getz, QC Tony Wilson Miriam Kresivo, QC Barry Zacharias Bill Maclagan Haydn Acheson Nancy Merrill Satwinder Bains Maria Morellato, QC Stacy Kuiack David Mossop, QC Peter Lloyd, FCA Thelma O’Grady Ben Meisner Lee Ongman Claude Richmond Vincent Orchard, QC
Richard Fyfe, QC, Deputy Attorney General of BC, Ministry of Justice, representing the Attorney General
Absent: Thomas Fellhauer Catherine Sas, QC Staff Present: Tim McGee Bill McIntosh Lynn Burns Jeanette McPhee Robyn Crisanti Doug Munro Jeffrey Hoskins, QC Lesley Small Su Forbes, QC Alan Treleaven Michael Lucas Adam Whitcombe Guests: Chris Axworthy, QC, Dean, Faculty of Law, Thompson Rivers University Dom Bautista, Executive Director, Law Courts Center Mark Benton, QC, Executive Director, Legal Services Society
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Kari Boyle, Executive Director, Mediate BC Society Simon Chester, Heenan Blaikie, LLP Anne Chopra, Equity Ombudsperson Ron Friesen, CEO, Continuing Legal Education Society of BC Donna Greschner, Dean, Faculty of Law, University of Victoria Jeremy Hainsworth, Reporter, Lawyers Weekly Gavin Hume, QC, the Law Society’s Representative on the Council of the
Federation of Law Societies of Canada Drew Jackson, Director of Client Services and Associate Executive Director,
Courthouse Libraries British Columbia Carmen Marolla, Director, Sponsorship and Advertising, BC Paralegal
Association Christine Mayer, NCA Examinations Manager, Federation of Law Societies of
Canada, National Committee on Accreditation (NCA) Wayne Robertson, QC, Executive Director, Law Foundation of BC Jeremy Schmidt, Executive Coordinator, Faculty of Law, University of British
Columbia Kerry Simmons, Vice-President, Canadian Bar Association, BC Branch Jennifer Weber, Director Professional Development and Sections, Canadian Bar
Association, BC Branch Deborah Wolfe, Managing Director, Federation of Law Societies of Canada,
National Committee on Accreditation (NCA)
CONSENT AGENDA
1. Minutes
The minutes of the meeting held on September 7, 2012 were approved as circulated.
The following resolution was passed unanimously and by consent.
BE IT RESOLVED to amend the Law Society Rules, effective January 1, 2013, as follows:
1. In Schedule 1, by striking “$1,840.41” at the end of item A1 and substituting “$1,893.06”;
2. In Schedule 2, by revising the prorated figures in each column accordingly; and
3. In the headings of schedules 1, 2, and 3, by striking the year “2012” and substituting “2013”.
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BE IT RESOLVED to amend the Law Society Rules by rescinding paragraph (j) of the definition of “professional conduct record” and substituting the following:
(j) a decision made under section 38(4)(b) of the Act;
BE IT RESOLVED to amend Recommendation 3 of the Family Law Task Force Report to the Benchers dated September 7, 20121 to include:
3(8) lawyers who, as of the date the new Rule 3-20 is approved, are acting in the capacity of a parenting coordinator under an existing parenting coordinator agreement or order of the Court, will have until January 1, 2014 to meet the training requirements of parenting coordinators recommended in this report.
REGULAR AGENDA – for Discussion and Decision
5. President’s Report
Mr. LeRose briefed the Benchers on various Law Society matters to which he has attended since the last meeting, including:
a) Kootenay Bar Assoc Meeting
Mr. LeRose and Mr. McGee attended the September meeting of the Kootenay Bar Association. Mr. McGee’s remarks at the business meeting were well-received.
b) Federation Council Meeting and Conference (Vancouver)
National Competency Standards was a key topic on the Council meeting agenda, and Strengthening Competency was the theme of the two-day Conference to follow. Other topics on the Council meeting agenda were
• Mobility for Quebec lawyers
• Strategic planning and priorities, with emphasis on developing national standards for regulation and enhancing access to legal services
1 For the rest of Recommendation 3, see: QUALIFICATIONS FOR LAWYERS ACTING AS ARBITRATORS, MEDIATORS, AND/OR PARENTING COORDINATORS IN FAMILY LAW MATTERS, Report of the Family Law Task Force to the Benchers, September 7, 2012, pages 9-10. The report can be downloaded from the Law Society website (http://www.lawsociety.bc.ca/page.cfm?cid=99&t=Committee-and-Task-Force-Reports) under “FAMILY LAW”
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• 2013 Budget
o no levy increase proposed for the coming year
Mr. LeRose expressed his appreciation regarding the attendance of fourteen Benchers at the Federation Conference dinner hosted by the Law Society.
c) 2012 Annual General Meeting
The 2012 AGM was successful, with PricewaterhouseCoopers approved as the Law Society’s auditors for 2012, with Mr. Walker elected as Second Vice-President for 2013, and without any major technical difficulties. A minor issue with quality of audio transmission from the Nanaimo venue is being investigated.
The following member resolution passed by the margin of 85 for and 75 against:
BE IT RESOLVED that the Law Society membership direct the Law Society to research the feasibility of creating a class of membership for non‐profit lawyers with a reduced rate of practice fees, and to present to the membership within six months information about the feasibility of such a class of membership.
The Executive Committee will consider staff advice regarding implementation of the resolution.
d) 2012 International Bar Association (IBA) Annual Conference in Dublin, Ireland
The two dominant themes of the 2012 IBA Annual Conference were the distressed economic circumstances of the European Union and European law firms, and consideration of the use and regulation of alternative business structures (ABS). The lack of unanimity on ABS was apparent, as was the wisdom of the “wait and see” approach recommended by the Independence & Self-Governance Advisory Committee in its October 2011 report to the Benchers.
e) BC Court of Appeal Practice Issue
The Law Society has been invited to participate in a BC Court of Appeal working group to consider incompetence of counsel as a ground for appeal. The working group has been created for the purpose of consultation in advance of any Practice Directive by the Court. Michael Lucas, Manager of Policy and Legal Services, will represent the Law Society.
6. CEO’s Report
Mr. McGee reported orally on several matters, including:
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a) International Institute of Law Association Chief Executives (IILACE) Annual Conference, Hong Kong, October 17-20, 2012
Chief executives of more than 70 law bodies, regulating or representing about 1.8 million lawyers, attended the IILACE 2012 Annual Conference. Enhancing access to legal services was the overriding issue of concern, with broad focus on expanding provision of legal services beyond lawyers. International standards of regulation and alternate business structures were also major discussion topics.
b) Access to Legal Services Course at UBC’s Faculty of Law
Earlier this week Mr. Vertlieb and Mr. McGee attended a UBC Faculty of Law course on enhancing access to legal services. A number of different delivery and service models are being considered; the discussion was vigorous and interesting. A delegation of law students from the course will attend an upcoming meeting of the Access to Legal Services Advisory Committee.
c) Law Society of Upper Canada (LSUC) Articling Task Force
LSUC’s Articling Task Force has issued its report for the Benchers’ debate at their November Convocation. The debate will be open to the public by webcast.
d) Benchers’ Seminar on the BC Code of Professional Conduct (the BC Code)
Past-President Gavin Hume, QC will conduct a 90-minute seminar on the BC Code for Law Society Benchers following their December 7 meeting. The BC Code comes into force on January 1, 2013, replacing the current Professional Conduct Handbook. Mr. Hume is the Law Society’s representative to the Council of the Federation of Law Societies of Canada, and is Chair of the Federation’s Standing Committee on the Model Code of Professional Conduct.
e) Quarterly Financial Update
Finance Committee Art Vertlieb, QC reported that the Law Society’s finances are in good order through the third quarter of 2012. Chief Financial Officer and Director of Trust Regulation Jeanette McPhee provided highlights of the Law Society’s financial status through September 30, 2012, referring to her Quarterly Financial Report (page 6000 of the meeting materials and Appendix 1 to these minutes) for details.
7. Federation of Law Societies of Canada: Council Report by the Law Society’s Council Representative
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Gavin Hume, QC reported to the Benchers as the Law Society’s Federation Council representative. He provided highlights of the Federation Council Meeting and Law Conference held in Vancouver (September 20-22), referring to the October 2012 President’s Report to the Law Societies by John Hunter, QC (page 7000 of the meeting materials) for details. Mr. Hume described the development of national admission standards and a consistent approach to their implementation as the focus of both the Council meeting and the Conference.
Important topics covered at the Council meeting included:
a) Strategic Planning and Priorities
The Federation’s Strategic Plan for 2012-2015 was approved by the Council earlier this year, maintaining the 2010-2012 plan’s focus on national standards of regulation and access to legal services. b) Mobility
The Council approved as a Federation priority the development of a simplified mobility regime between Quebec and the common law provinces. The Quebec Mobility Agreement Review Committee has been formed, to be chaired by Catherine Walker, QC, Council representative for the Nova Scotia Barristers Society, with Jeff Hoskins, QC, Tribunal and Legislative Counsel, and Alan Treleaven, Director of Education, representing the Law Society. The committee will work to enhance mobility from the foundation principle of encouraging lawyers to restrict their practices to their areas of competence. c) National Admission Standards
Following an intensive two-year effort, the Federation Council approved a national competency profile as the basis for admission to the Canadian legal profession, subject to the member societies’ approval. The Federation’s focus has turned to the implementation phase, with emphasis on the development of a national standard of good character.
d) Federation Litigation Update
Mr. Hume updated the Benchers on various Federation litigation matters.
e) Model Code of Professional Conduct Implementation Update
Six Canadian law societies have now adopted the Model Code—or, as in BC’s case, a provincial adaptation, and other societies are actively working toward implementation.
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The Federation’s Standing Committee on the Model Code (chaired by Mr. Hume) is continuing its work to support the provision of unbundled legal services, and to simplify the rules governing Canadian lawyers who wish to transfer between provinces.
8. Report on Outstanding Hearing & Review Reports
The Benchers received and reviewed a report on outstanding hearing decisions.
GUEST PRESENTATIONS
9. Update on the FLSC National Committee on Accreditation
Deborah Wolfe, Managing Director of the Federation of Law Societies of Canada’s National Committee on Accreditation (NCA), provided a 2012 update on the NCA. Ms. Wolfe’s PowerPoint presentation was provided to the Benchers in advance (Tab 9 of meeting materials and Appendix 2 to these minutes).
10. The Challenge of Innovations in Legal Practice for Legal Regulators
Simon Chester, a partner with Heenan Blaikie LLP, presented to the Benchers on the regulatory challenges raised by new organizational structures and arrangements for providing legal services. A PDF version of his presentation is attached as Appendix 3 to these minutes.
STRATEGIC PLANNING AND PRIORITIES MATTERS – For Discussion and/or Decision
11. Strategic Plan Implementation Update
Mr. LeRose updated the Benchers on a number of matters related to implementation of the 2012 – 2014 Strategic Plan, including:
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a) Governance Review Task Force
The purpose and structure of tomorrow’s Law Society Governance Retreat was outlined. The Benchers were thanked for their enthusiastic participation in the review of Law Society governance launched in January, including thoughtful feedback to the task force’s interim report, provided in written submissions and interviews. Benchers’ input provided in tomorrow’s retreat will be applied in preparation of the final report of the Governance Review Task Force, for review and approval at the December Bencher meeting.
b) BC Courts Family Law Paralegals Pilot Project Update
The Honourable Chief Judge Thomas Crabtree has written to the Law Society to confirm the BC Provincial Court’s support for the two-year pilot project. The Law Society has prepared project evaluation criteria for the Court’s review.
c) Legal Service Provider Task Force Update
The Legal Service Provider Task Force was created by the Benchers at their July meeting. The terms of reference approved at that meeting provide that the task force is to consider whether the Law Society ought to regulate only lawyers in British Columbia or whether it should regulate other legal service providers.
… In particular, the task force should:
1. consider previous work at the Law Society on the regulation of non-lawyers;
2. consider and report on legal service regulatory regimes in other jurisdictions where the regulation extends to non-lawyers;
3. consider and report on implications for the Law Society operation on regulating non-lawyers;
4. consider and report on whether it is in the public interest that non-lawyer legal service providers be regulated and if so, whether it is in the public interest that the Law Society should be that regulator;
5. consider and report on whether the recognition and regulation of non-lawyer legal service providers would improve access to law-related services for the public;
6. make a recommendation to the Benchers about whether the Law Society should continue to regulate only lawyers in British Columbia or whether it should take steps to implement the regulation of other legal service providers.
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The members of the Legal Service Provider Task Force are: Godfrey Archbold, CEO, Land Title & Survey Authority of BC (non-legal representative), Satwinder Bains, Appointed Bencher, Law Society of BC, John Eastwood, President, Society of Notaries Public of BC, Bruce LeRose, QC, 2012 President, Law Society of BC (Chair), Carmen Marolla, Director (Sponsorship and Advertising), BC Paralegal Association, Kerry Simmons, President, CBABC, and Ken Walker, 2013 Second Vice-President, Law Society of BC (Vice-Chair).
The task force will hold its initial meeting in early December 2012, with the goal of submitting its report and recommendations to the Benchers by the end of 2013.
d) The Justicia Project
Mr. Lucas reported on the Justicia Project, a volunteer program approved by the Benchers in 2011 to promote and support women’s participation in the legal profession. He noted that the Justicia Project is included in the current strategic plan as Initiative 2-1(b): to “support the retention of women lawyers by implementing the Justicia Project.” Participating law firms are asked to sign a commitment to support the program by developing and sharing resources and best practices. Started in Ontario by the Law Society of Upper Canada, the Justicia Project is now underway in Manitoba, Alberta and BC as well. Phase 1 of BC’s project will be launched on November 20 with a kick-off luncheon for the managing partners of national and large regional firms, to be hosted by the Vancouver office of Gowling Lafleur Henderson LLP.
e) Annual Review of Strategic Plan Implementation
Mr. McGee advised that a detailed review of progress toward implementation of the 2012-2014 Strategic Plan will be presented at the December Bencher meeting.
OTHER BUSINESS (White Paper on Justice Reform)
Deputy Attorney General Richard Fyfe, QC briefed the Benchers on Part 1 of the BC government’s White Paper on Justice Reform. A Modern, Transparent Justice System. Mr. Fyfe advised that the White Paper addresses the three themes raised by Geoffrey Cowper, QC in his February 2012 report, Modernizing BC’s Justice System: timeliness, transparency and proportionality. Part 1 focuses largely on transparency, with some attention to timeliness. Part 2 is expected to concentrate on proportionality, and to address policing issues raised by the Honourable Wally Oppal, QC in the pending report of the Missing Women Commission of Inquiry.
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Mr. Fyfe noted that Part 1 contains 10 action items, and provides a table of concordance (in Appendix 1) to recommendations contained in the Cowper Report. He highlighted some of the action items, notably the creation of the Justice and Public Safety Council, publication of an annual Justice and Public Safety Plan, and holding a regular Justice Summit meeting to promote meaningful engagement between key justice system participants. Mr. Fyfe also noted that the government welcomes input from the Law Society, the profession and the public.
Mr. LeRose advised that the Law Society will provide feedback to the White Paper. He confirmed that the Law Society supports the government’s aim to modernize our justice system by consulting with stakeholders, setting clear strategic direction, ensuring reform is coordinated, and evaluating effectiveness through performance measurement.
WKM 2012-11-26
Quarterly Financial Report
September 30, 2012
Prepared for: Benchers
Prepared by: Jeanette McPhee, CFO & Director Trust Regulation
October 17, 2012
CFO Quarterly Financial Report – YTD September 2012
Attached are the financial results and highlights for the first nine months of 2012.
General Fund
General Fund (excluding capital and TAF)
The General Fund operations resulted in a $767,000 positive variance to the end of
September 2012. The positive variance is due to the timing of operating expenses
which are expected to occur in the fourth quarter.
Revenue
Revenue was $14,405,000, $90,000 (0.6%) ahead of budget due to slightly higher
PLTC and electronic filing revenues.
Operating Expenses
Operating expenses were less than budget, finishing the third quarter at $13.4 million,
$906,000 (6.3%) under budget. As mentioned above, this positive variance is due to
the timing of operating expenses which are expected to occur in the fourth quarter.
2012 Forecast - General Fund (excluding capital and TAF)
Operating Revenue
Practicing membership is expected to be very close to budget, projected at 10,751
members compared to a budget of 10,787. There will be 410 PLTC students for the
year, 10 students ahead of budget. Other revenues are expected to be slightly over
budget by year end. Total operating revenue is projected to finish the year with an
$80,000 positive variance.
Operating Expenses
Operating expenses are projected to finish the year with a $340,000 positive variance,
due to the following:
A number of Bencher approved items after the 2012 budget was set, resulting in a
$317,000 negative variance:
Governance review - $115,000
CBA REAL program - $75,000
Federation levy - $40,000
CBA conference sponsorship - $20,000
Privacy review - $55,000
New aboriginal scholarship - $12,000
Offsetting this, we are projecting other operating expense savings of $657,000 to year
end mainly due to:
Savings in external counsel fees and forensic accounting fees related to the number of files over the year - $275,000
Staff salary savings due to vacancies and other savings - $280,000
Lower hearing panel travel and training costs - $70,000
845/835 Building – net results
The 845/835 Cambie lease revenue is projected below budget. The Benchers agreed
to forgive $60,000 in rent for CLE, and the projection assumes that the vacant lease
space is not rented by year end, resulting in a revenue reduction of $380,000. Our
agent continues to actively market the space.
Building maintenance expenses are projected to be on budget for the year.
Forecast
With the above mentioned results, we are projecting the General Fund operating
results to be very close to budget by year end.
TAF-related Revenue and Expenses
The first two quarters of TAF revenue were $1,117,000, $138,000 below budget. This
shortfall is more than offset by operating expense savings to the end of September
2012.
For the year, TAF revenue is projected at $2.2 million, $280,000 below budget. TAF
operating expenses are projected to be below budget for the year, which is expected to
offset this shortfall.
Special Compensation Fund
During the third quarter, the Fund received a $514,000 recovery of funds relating to a
older claim. This recovery is budgeted in the 2013 fiscal year but was received earlier
than expected.
Lawyers Insurance Fund
LIF operating revenues were $10.3 million to date, which is at budget. LIF operating
expenses were $3.8 million, $600,000 below budget. The positive variance is due to
savings from staff vacancies and the timing of general office expenses.
The market value of the LIF long term investments was $96 million at the end of
September 2012, an increase of $5.9 million on a year to date basis. The year to date
investment return was 6.3%, compared to a benchmark of 5.5%.
Summary of Financial Highlights - Sep 2012($000's)
2012 General Fund Results - YTD Sep 2012 (Excluding Capital Allocation & Depreciation)
Actual Budget $ Var % Var Revenue (excluding Capital)
845 Cambie St. - net results (excl. dep'n) 452 681 (229) -33.6%
1,460 693 767
2012 General Fund Year End Forecast (Excluding Capital Allocation & Depreciation)
Avg # of Practice Fee Revenue Members 2008 Actual 10,035 2009 Actual 10,213 2010 Actual 10,368 2011 Actual 10,564 2012 Projection 10,751 2012 Budget 10,787 2012 Actual YTD 10,742 Actual
Variance
RevenueMembership Revenue - 36 members less than budget (50) PLTC - 10 students more than budget 25 Electronic Filing 55 Late Payment Fees 25 Members' Manual / Benchers' Bulletin 20 Miscellaneous 5
General Fund Results including TAP 2,155 1,154 1,001
(1) Membership fees include capital allocation of $1.891m (YTD capital allocation budget = $1.898m).
The Law Society of British ColumbiaGeneral Fund
Results for the 9 Months ended September 30, 2012($000's)
Sep-12 Income Statements - Bencher Report_FINAL
Sept 30 Dec 31 2012 2011
Assets
Current assetsCash and cash equivalents 132 279 Unclaimed trust funds 1,670 1,848 Accounts receivable and prepaid expenses 821 1,129 B.C. Courthouse Library Fund 1,115 678 Due from Lawyers Insurance Fund 5,329 19,331
9,067 23,265
Property, plant and equipmentCambie Street property 11,518 11,739 Other - net 1,633 1,362
22,218 36,366
Liabilities
Current liabilitiesAccounts payable and accrued liabilities 1,044 4,040 Liability for unclaimed trust funds 1,670 1,848 Current portion of building loan payable 500 500 Deferred revenue 4,428 17,491 Deferred capital contributions 61 70 B.C. Courthouse Library Grant 1,115 678 Deposits 33 27
8,851 24,654
Building loan payable 4,100 4,600 12,951 29,254
Net assetsCapital Allocation 2,477 1,874 Unrestricted Net Assets 6,790 5,238
9,267 7,112 22,218 36,366
The Law Society of British ColumbiaGeneral Fund - Balance Sheet
As at September 30, 2012($000's)
Sep-12 Income Statements - Bencher Report_FINAL
Invested in P,P & E Unrestricted Capital 2012 2011net of associated debt Unrestricted Net Assets Allocation Total Total
$ $ $ $ $
Net assets - December 31, 2011 8,010 (2,769) 5,238 1,874 7,112 6,691 Net (deficiency) excess of revenue over expense for the period (685) 949 264 1,891 2,155 421 Repayment of building loan 500 - 500 (500) - - Purchase of capital assets:
Net assets - September 30, 2012 8,613 (1,820) 6,790 2,477 9,267 7,112
The Law Society of British ColumbiaGeneral Fund - Statement of Changes in Net Assets
For the 9 Months ended September 30, 2012($000's)
Sep-12 Income Statements - Bencher Report_FINAL
2012 2012 $ % Actual Budget Var Var
Revenue
Annual assessment 8 8 Recoveries 514 -
Total Revenues 522 8 514 6425.0%
Expenses
Claims and costs, net of recoveries - 538 Administrative and general costs 35 40 Loan interest expense (20) -
Total Expenses 15 578 (563) -97.4%
Special Compensation Fund Results 507 (570) 1,077
Results for the 9 Months ended September 30, 2012Special Compensation Fund
The Law Society of British Columbia
($000's)
Sep-12 Income Statements - Bencher Report_FINAL
Sept 30 Dec 31 2012 2011
Assets
Current assetsCash and cash equivalents 1 1 Due from Lawyers Insurance Fund 1,447 950
1,448 951
Liabilities
Current liabilitiesAccounts payable and accrued liabilities 6 8 Deferred revenue 3 11
9 19
Net assetsUnrestricted net assets 1,439 932
1,439 932 1,448 951
The Law Society of British ColumbiaSpecial Compensation Fund - Balance Sheet
As at September 30, 2012($000's)
Sep-12 Income Statements - Bencher Report_FINAL
2012 2011$ $
Unrestricted Net assets - December 31, 2011 932 831
Net excess of revenue over expense for the period 507 101
Net assets - September 30, 2012 1,439 932
The Law Society of British ColumbiaSpecial Compensation Fund - Statement of Changes in Net Assets
For the 9 Months ended September 30, 2012($000's)
Sep-12 Income Statements - Bencher Report_FINAL
2012 2012 $ % Actual Budget Var Var
Revenue
Annual assessment 10,299 10,294 Investment income 5,801 4,420 Other income 90 62
Total Revenues 16,190 14,776 1,414 9.6%
ExpensesInsurance ExpenseProvision for settlement of claims 11,149 11,148 Salaries and benefits 1,694 2,067 Contribution to program and administrative costs of General Fund 1,130 1,177 Office 570 736 Actuaries, consultants and investment brokers' fees 293 316 Allocated office rent 111 111 Premium taxes 14 13
14,961 15,568 Loss Prevention ExpenseContribution to co-sponsored program costs of General Fund 538 531
Total Expenses 15,499 16,099 600 3.7%
Lawyers Insurance Fund Results before 750 Cambie 691 (1,323) 2,014
750 Cambie net results 275 234 41
Lawyers Insurance Fund Results 966 (1,089) 2,055
($000's)
The Law Society of British ColumbiaLawyers Insurance Fund
Results for the 9 Months ended September 30, 2012
Sep-12 Income Statements - Bencher Report_FINAL
Sept 30 Dec 31 2012 2011
Assets
Cash and cash equivalents 4,807 23,719 Accounts receivable and prepaid expenses 930 654 Due from members 64 67 General Fund building loan 4,600 5,100 Investments 105,798 102,895
116,199 132,435
Liabilities
Accounts payable and accrued liabilities 364 1,609 Deferred revenue 3,421 6,813 Due to General Fund 5,330 19,331 Due to Special Compensation Fund 1,447 950 Provision for claims 53,775 52,876 Provision for ULAE 7,105 7,065
71,442 88,644
Net assetsUnrestricted net assets 27,257 26,291 Internally restricted net assets 17,500 17,500
44,757 43,791 116,199 132,435
The Law Society of British ColumbiaLawyers Insurance Fund - Balance Sheet
As at September 30, 2012($000's)
Sep-12 Income Statements - Bencher Report_FINAL
Internally 2012 2011Unrestricted Restricted Total Total
$ $ $ $
Net assets - December 31, 2011 26,291 17,500 43,791 33,962
Net excess of revenue over expense for the period 966 - 966 9,827
Net assets - September 30, 2012 27,257 17,500 44,757 43,789
The Law Society of British ColumbiaLawyers Insurance Fund - Statement of Changes in Net Assets
For the 9 Months ended September 30, 2012($000's)
The National Committee on Accreditation
Deborah Wolfe, P.Eng. Managing Director National Committee on Accreditation
Today’s Presentation
• Introduction to the NCA
• History of the NCA
• How the NCA works
“The Federation of Law Societies of Canada is the national coordinating body of the 14 law societies which are mandated by provincial and territorial law to regulate Canada’s 100,000 lawyers and Quebec’s 4,000 notaries in the public interest.”
The mandate of the NCA is to assess the qualifications of individuals with legal education and professional experience obtained outside of Canada, or in a Canadian civil law program, who wish to be admitted to a common law bar in Canada.
The NCA’s History
• Until 1977, each law society evaluated foreign trained applicants independently
• The Federation and the Deans created The Joint Committee on Accreditation in 1977
• Initially all common law, law societies used the JCA except Alberta
• LSA joined the NCA in 2001
- Assessments determined what credit, or advanced standing, should be given to the applicant’s education
- Initially, all applicants were required to complete at least some law school
The NCA’s History, cont’d
The NCA’s History, cont’d
• In 1995, the LSUC commissioned a study on the NCA. The MacKenzie report, 1997, laid out 11 recommendations including that the LSUC continue to use the NCA.
• The Federation established a committee to consider the MacKenzie report. The Wallace Report was issued in 1998, and led to changes in the NCA’s policies and operations.
The NCA’s History, cont’d
• The Wallace recommendations, most implemented over the next decade, included: – Standards of assessment
– Delegation
– Assessment decisions
– Competency based assessment
• The report also specified the composition of the NCA
The NCA’s History, cont’d
• Discussions on NCA competencies continued, culminating in a major assessment policy change in 2009 and further revisions in 2011
• Over the same timeframe, the Federation developed new policies, the “National Requirement”, for the approval of Canadian common law degree programs
• The NCA’s next policy task is to bring the NCA’s policies into compliance with the National Requirement
